GEN COMBO M:MARKETING; CONNECT 1S ACCESS CARD
5th Edition
ISBN: 9781259896767
Author: Dhruv Grewal Professor, Michael Levy
Publisher: McGraw-Hill Education
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Question
Chapter 14.8, Problem 1CY
Summary Introduction
To determine: The common pricing practice which is considered illegal.
Introduction: The strategy used by the companies to set the price of their products and services is known as the pricing strategy.
Expert Solution & Answer
Explanation of Solution
Even though it is always unethical to mislead in advertisements, a particular amount of puffery would be allowed. Apart from this allowed exception, there are certain points which are considered unethical; these points are explained as follows:
- Deceptive reference pricing: Deceptive reference price means where the reference prices are deflated or fictitious which might harm the consumers. This kind of reference prices is considered to be unethical or illegal.
- Loss-leader pricing: Loss-leader pricing is the tactics used by the store owners to mislead the customers. This store owners lowers the price to below store’s cost but with a markup of 100%. This type of discount does not consider to be legal in some states if the manufacturer is captivating the promotion cost of the firm.
- Bait and switch: In this strategy, sellers advertise deceptive prices without any intention to sell it. This type of strategy is also considered unethical in the country.
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Chapter 14 Solutions
GEN COMBO M:MARKETING; CONNECT 1S ACCESS CARD
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